Tuesday, July 24, 2012

ES - 24 July, 2012

Yesterday I set up my IB account with a paper €100k starting balance (minimum required to trade margin securities).

Today was the first day of trading it.

During the day, I did not post any trades because:
- In the first half of the day, the market did not reach my hourly set-up. At this stage, my trading was pure scalping through the mood and the very short-term proportions at pre-lunch gyrations;
- Then, the market caught me by surprise, breaking before lunch to the downside, through various supports. I took a few counter-trend long trades along the way, with modest draw-downs, that I was able to average, based on my projections of potential extensions.

Average entry size was 5 e-mini contracts.

Realized P&L was €2,009.

I am carrying a 1ES long position overnight, because the early-week corrections have lately allowed a subsequent rise for the rest of the week.

3 comments:

not sure what to think right now. I thought the market was about to crash down hard. But the guy from http://sentiment-trader.blogspot.com.au thinks we are setting up for an xmas rally and I love to listen to him as he has had some insanely accurate calls over the last few months!

Disclaimer

Trading involves Risk

Trading carries a high level of risk, and may not be suitable for all investors. You must be aware of the risks and be willing to accept them in order to invest in the futures markets. You are subject to lose all or more of your original investment. Don’t trade with money you can’t afford to lose or money that, if lost, would affect your current lifestyle. This website is neither a solicitation nor an offer to buy/sell futures. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

It is strongly recommended that you consult a licensed financial professional before taking any action to buy/sell futures. The contents of this website and all associated communications are for reflective and educational purposes only and are not intended to be financial advice. You should be aware of all the risks associated with futures trading, and seek advice from an independent financial advisor if you have any doubts.

Content Risk

The content provided in this site is put forward in good faith and believed to be accurate; however there are no implicit guarantees of accuracy. The reader accepts that by using this information, he or she will not hold The Incremental Trader responsible for decisions based on information from this site. This website may contain links to other websites. These links are provided as references to help you identify and locate other Internet resources that may be of interest. These other websites were independently developed by parties other than The Incremental Trader and does not assume responsibility for the accuracy or appropriateness of the information contained at, or endorse the viewpoints expressed at, such websites.

Market Opinions

Any opinions expressed regarding the prices of specific trades and the direction they will take in the future are purely opinions and are used for demonstration or training purposed only. They do not necessarily represent the opinion of The Incremental Trader, and are NOT guaranteed in any way. In no event shall The Incremental Trader, have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided verbally or via the Internet, or any delays, inaccuracies, errors in, or omissions of information.

Internet Trading Risks

Furthermore, there are risks associated with utilizing an internet-based execution trading system including, but not limited to, the failure of hardware, software, or internet connection. Since The Incremental Trader does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet.

If you choose to trade, despite these warnings, you accept that you are doing so at your own risk. The Incremental Trader shall in no way be held responsible for any losses or damages you may incur through your trading activity.